The Federal Trade Commission took action Friday against the three largest pharmacy benefit managers, accusing the companies of “engaging in anticompetitive and unfair rebating practices that have artificially inflated the list price of insulin drugs,

Regulators say the nation's largest pharmacy benefit managers are partly to blame for the soaring cost of insulin in the U.S.

The Federal Trade Commission sued on Friday the three largest pharmaceutical intermediaries charged with negotiating drug prices on behalf of insurers, claiming they are illegally maximizing profits by steering patients to high-cost insulin products.